Managing Corporate Reputations: Top Down
Managing Corporate Reputations: Top Down
The traditional way to create a good corporate reputation is to create statements of vision, mission and values and hope that employees take notice and behave accordingly. Sometimes companies also appoint a Chief Reputation Officer to advise about reputation enhancing activities. However, the variety of corporate scandals in recent years clearly illustrates the limitations of this approach. The approach advocated in this chapter is to create and implement a ‘reputation rule’ that rewards behaviour that enhances a good reputation and punishes behaviour that depreciates a company’s good name.
Keywords: Managing by values, Managing by a reputation rule, Prioritising stakeholders, Roles of the CEO
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